HIF Global signs collaboration agreement with Airbus for Sustainable Aviation Fuels

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Jul 23, 2024, 12:47 ET

Agreement paves the way for e-Fuels, made from renewable electricity, water, and recycled carbon dioxide, to reduce net CO₂ emissions in the aviation sector

FARNBOROUGH, UK, July 23, 2024 /PRNewswire/ -- HIF Global has announced the signing of a Memorandum of Understanding with Airbus to advance the global development of e-Fuels for aviation ("e-Sustainable Aviation Fuel" or "e-SAF") via the methanol to jet fuel ("MTJ") pathway. The MoU provides a framework for negotiation of definitive agreements in relation to four key workstreams: technical, project development, commercial and advocacy.

The collaboration was signed at the Farnborough Air Show in England, one of the most prestigious global aerospace, aviation and defense industry fairs.

Clara Bowman, Chief Operating Officer of HIF Global, said, "The International Energy Agency projects that aviation activity will double from 2022 levels by 2030¹. We are therefore in a global race to supply and scale up sustainable fuels to aviation, the hardest to abate of all the transportation sectors. Collaboration between HIF and Airbus will help accelerate the airline sector's adoption of e-SAF and facilitate the industry's transition to net zero."

e-SAF is a type of Sustainable Aviation Fuel made by combining recycled CO₂ and green hydrogen produced with renewable electricity. e-SAF is a drop-in fuel which can be used in existing airplanes without any modifications to their engines. HIF Global is designing e-SAF production facilities based on methanol to jet fuel synthesis, also called the MtJ pathway.

In May 2023, HIF Global announced agreements with Johnson Matthey and Honeywell UOP to conduct preliminary engineering for HIF's first Sustainable Aviation Fuel facility in the United States.

About HIF Global

HIF Global is the world's leading e-Fuels company, developing projects worldwide to convert renewable energy into near carbon neutral e-Fuels that can be utilized in existing engines. The name HIF represents the mission of the company: to provide Highly Innovative Fuels to make decarbonization of the planet possible. HIF is producing e-Fuels today at its HIF Haru Oni e-Fuels facility in southern Chile and is developing commercial-scale e-Fuels facilities in Texas, Uruguay, Australia, and Chile. For more information, visit www.hifglobal.com

CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING STATEMENTS

Information in this press release includes various statements that are forward-looking statements within the meaning of the U.S. federal securities laws. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Words such as "can," "expect," potential," "to be," "will," and similar expressions are used to identify forward-looking statements and convey the uncertainty of future events or outcomes. Forward-looking statements in this press release relate to, among other things, the expectations of our plans, strategies, and objectives, including with respect to the timing and other aspects of the HIF e-Fuels facilities. Such statements are based on management's current expectations and assumptions and are subject to known and unknown risks and uncertainties that may cause actual results or events to differ materially from expectations expressed or implied in the forward-looking statements. Factors that could cause actual results or events to differ materially from those described in the forward-looking statements include (without limitation): our ability to timely obtain or maintain necessary permits to construct and develop the HIF e-Fuels facilities; our ability to execute operational objectives on a timely and successful basis; legislative, policy, fiscal and regulatory developments; the outcome of commercial negotiations; our ability to raise financing; consumer preferences or demand; and various economic, business, and competitive factors affecting our business. All forwardlooking statements contained in this press release are expressly qualified in their entirety by the cautionary statements contained or referred to in this paragraph. HIF Global urges you to carefully review and consider the cautionary statements made in this press release and cautions you not to place undue reliance on forward-looking statements, which speak only as of the date of this press release. HIF Global undertakes no obligation (and expressly disclaims any such obligation) to update any forward-looking statements, whether as a result of new information, future events or otherwise.

¹The Role of E-fuels in Decarbonising Transport, (2024), International Energy Agency